Naira to Dollar official & black market rates today, Wednesday, February 18, 2026

Nigeria’s foreign exchange market recorded fresh movements on Wednesday, February 18, 2026, as the Naira traded at an average of ₦1,345.45 per Dollar in the official window.

The mid-week session reflected cautious trading, with both official and parallel markets responding to growing liquidity demands.

The local currency showed mild fluctuations against the United States Dollar, continuing a trend of careful adjustments seen in recent weeks.

Official Market Shows Measured Stability

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) indicates that the Naira settled at an average rate of ₦1,345.45 per Dollar.

Earlier in the day, the currency briefly dipped to ₦1,343.76 before regaining ground and stabilising.

Analysts say the relative calm in the official window is supported by steady interventions from the Central Bank and consistent inflows from export proceeds. These measures appear to have reduced panic-driven trading.

However, attention remains on the intraday high and low margins. Corporate buyers are watching closely as they seek to hedge against possible shifts later in the day.

Parallel Market Trades at Higher Premium

In the parallel market, commonly known as the black market, the Dollar continues to command a stronger rate than in the official window.

Checks with Bureau De Change operators in Lagos, Abuja and Kano show the Dollar being bought at around ₦1,480. It is then sold between ₦1,495 and ₦1,510 per Dollar.

The gap between both markets, often described as the arbitrage gap, remains wide. Retail demand for school fees, travel allowances and small-scale imports continues to drive activity outside official channels.

Outlook Remains Cautiously Positive

The current exchange pattern reflects measured confidence in the broader economy.

Although the Naira has avoided sharp devaluations seen in past cycles, inflation still affects pricing decisions in the informal market.

Experts believe that if foreign exchange supply remains steady through the Nigerian Foreign Exchange Market, pressure on the parallel market could ease before the week ends.

For now, businesses and individuals are urged to monitor official channels closely for accurate and transparent pricing.